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Home My WebLink About0547 1-4 FAMILY RIDER ~a/~ees PsL Assig~~ment af Rents ~ TN1S I-~ FAMILY RIDER is made this 1~ day uf DEC MB~ 8g ' :,nd i, incurpurstc~d intu :ux1 ~h~ll be d~mrd tu an~nd ~u?d supplement thr Mortgage. ~cd of Trust or Security [k,u1 ltht "Sc~~uriry 1naUumen!") uf the san~e d•ate given by the underoigncxl (the "Burruwer") tu ~~ure Burrower's Nute tu GDV FINANCIAL CORPORATION (the "lxnder") uf thr ~an~ date :u~d covering the pruperty dtscribed in the S~curity ln~trumrnt and I~at~i ar. 937 S.W. GWENDOLEN TERRACE, PORT ST. LUCIE, FL 34953 ~Propeny noaress) 1-1 FAMILY COVENANI'S. !n additiun tu the cuven;uu~ :u~d agrec;mrnts m~ufe in the S~:urity In~uument, B~xruwer :uxf lxrxi~r furthrr cuvendnt dnd agrcx as folluws: A. USE OF PROPERTY; COMPLIANCE WITH LAW. Burrower ~hall n~x s~ek, agret to or mal:e a ch:uige in the u~ of the Proprrty or its zoning classi6cetion, unle~s Lxnder hus agreed in writing to the change. Borrower shall cumply with all law~, onlinance~, rcgulations an~i reyuircments of 3ny guvernmental body applicnbte to the Property. B. SUBORDDVATE LlENS. Except as permitteci by feder.~l law, Borruwer shall not dllow :uiy lien infericx to the Securiry lnswment to be perfected against the Propeny without l.ender's prior written permissio~. C. RENT LOSS 1NSURANCE. Borruwer shall maintain insurance against rent loss in addition tu the other hazards for which insurance is required by Uniform Covenant 5. D. "BORROWER'S RIGHT TO REINSTATE" DELETED. Uniform Covenant l8 is deleted. E. ASSIGNII~NT OF LEASES. Upon Lender's reyuest, Borrower shall a~.cign to Lender all leases of the Propeny snd ali security deposits made in conn~tion with leases of the Prc~perty. Upon the assignmrnt. l,ender shall have the - right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole disr.retion. As usr.d in this pardgraph E, the word "I~nse" shall mean "sublease" if the Securiry Instrument is on a leasehuld. F. ASSIGNMENT OF RENTS. 8orrower unconditionally assign~ and transfers to Lender :ill the rents rnd revenuC~ ' uf the Pruperty. Borrower authorizes Lender or Lender's agents to collut the rents and revenues and hereby directs each ~ tenant uf the Propeny to pay the rcnts to Lender or ixnder's agents. However. prior to L.ender's Notice to Burrower of ~ Borrower's be~ach uf any covenant or agreement in the Security Inswment. Borrower shall culltct ar?d receive all rents ' arui revenues of the Property as wstee for the benefit of l.ender and Borrower. This assignment of rents cunstiwtes an I sb~olute assignment and not an assignment for additional security only. i If Ixncier gives notice of breach to Borrower. (i) aU rents received by Borrower shall be heid by Borrower :?s trustee { for benefit of Lender only, to be applied to the sums secured by the Security lnstrument; (ii) Lender shall be entitlui to ' zullect dnd receive all of the rents of the Property; and (iii) each tenant of the Property shall pay all rents due and unpaid to l.ender or L.ender's agent on l.ender's written demand to the tenant. ! " 8orrower hss not executad any prior ar?ri~nment of the rcnt• and has not and will not perform any act thst would g prevent Lender !rom exercising its rights under thi~ paragraph F. ( lxnder shall not be required to enter upon, take contrul uf or maintain the Property before or after giving notice of ~ breach to Borrower. However, ixnder or a judicially appointed receiver may do so at any time there is a breach. Any ~ appliratiun uf rents shall ~ot cure or waive any def;wlt cx invalidate any other right ar remedy of L.ender. This assign- ~ mrnt uf rent~ of the Property shall terminate when the dCbt secured by th~ Security Inswment is pad in fuU. ~ G. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which l.ender has ~ an incerest shall be a breach under the Security Instrument and L.ender may invoke any of the remedies permitted by the Security Inswment. E ~ BY SIGN(NG BELOW, Borrower accepts and agrtes to ' te provisions contained in this 1-4 Family Rider. : (Sea1) ~ A. SORIA •eorrawr ~ ~ ~ - ~ ~ RIA E. SORIA -ea~ower > ~ ~ •&xro~w~r -Bo?roMrK € a 'f ~ ~ gooK~74 P~~ 547 MULT1tTATE 4~ FAIHLY RIOER - fsnN~ YWfndrN MaC UW~ I~nmeM Fon~ J17~ /8/~6 ~-57 V11P M(~tTGAGE fORAtS • 13131 792 ~700 • IB001 52t JiSt a. ~ _ - _ . j~~c-~»,,,~'~ P- ~~%x.'~ - -+~:~':i,'a~~ `s`~.,-..~£. ~J ~ ~,4'- - °'~~~,~"~~.~~~.~F.~a ~ .